london stock exchange welcomes SDCL Energy Efficiency Income Trust plc to the main market
London Stock Exchange welcomes the Sustainable Development Capital Energy Efficiency Income Trust (SEEIT), a UK investment trust investing in operational opportunities in the energy efficiency sector, to trading on the premium segment of the London Stock Exchange’s main market.
SEEIT has joined the market today following a fundraise of £100m.
SEEIT is the first UK-listed investment fund to invest exclusively in the energy efficiency sector – an emerging and rapidly growing segment of the infrastructure market. The Income Trust will focus on projects driven by the opportunity to deliver lower cost, cleaner and more reliable energy solutions to end users of energy. These projects do not depend on subsidies, market incentives or energy markets for their returns. The fund intends to achieve its investment objective by investing principally in a diversified portfolio of Energy Efficiency Projects with high quality, private and public sector Counterparties.
SEEIT is managed by Sustainable Development Capital LLP (SDCL), a market leading London based investment firm with a proven track record of investment in energy efficiency and decentralised generation projects in the UK, Continental Europe, North America and Asia.
Jonathan Maxwell, Chief Executive Officer of SEEIT:
“SEEIT’s listing on the London Stock Exchange will provide investors with a unique opportunity to gain exposure to the emerging energy efficiency asset class. Both private and public organisations are seeking to reduce their energy consumption footprint and improve security of energy supply, mindful of economic, social and environmental costs. Capitalising on this opportunity and through SDCL’s expertise and knowledge, SEEIT has already identified a high-quality operational seed portfolio, targeting a total return of 7-8 per cent. per annum, with a growing dividend yield.”
Key advisers on the Placing and Admission included Jefferies International Limited as Sponsor, Global Co-ordinator and Bookrunner, PwC LLP as Auditors, BDO LLP as Reporting Accountants, Herbert Smith Freehills LLP as Legal Advisers to the Company, Gowling WLG LLP as Legal Advisers to the Sponsor, and TB Cardew as Financial PR adviser to the Company.